A Farm Co-Op Has Over 40,500 Gallons of Fertilizer/herbicide Available

question 48

Multiple Choice

A farm co-op has over 40,500 gallons of fertilizer/herbicide available to use when planting corn and soybeans. The farm co-op's maximum profit for using 40,500 gallons of fertilizer/herbicide is $315,002 and the maximum profit for 40,508 gallons is $315,030. What is the profit value of each additional gallon of fertilizer/herbicide (that is, the shadow price of a gallon of fertilizer/herbicide) ? Round your answer to the nearest cent if necessary.

• A)$4.00
• B)$3.50
• C)$3.11
• D)$28.00
• E)$14.00

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Definitions:

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